BUZZ-U.S. STOCKS ON THE MOVE-Celldex, Iconix, Pier 1, gold miners

Reuters Staff

5 Min Read

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street was set to open lower on Monday after the S&P 500 and the Dow recorded their first four-day winning streak in about five months last week. Dow Jones industrial average futures were down 0.30 percent at 16,916, S&P 500 futures were down 0.41 percent at 1,986.75 and Nasdaq 100 futures were down 0.44 percent at 4,303.5.

** CELLDEX THERAPEUTICS INC, Friday close $8.19, -52.38 pct premarket

The drug developer said it would discontinue a late-stage study of its brain cancer vaccine after an independent interim analysis suggested the therapy might not show a statistically significant difference in survival rates compared with chemotherapy.

The oil and natural gas producer suspended distributions on its common and preferred units on Friday. FBR Capital Markets downgraded the stock to “market perform” from “outperform”, saying the suspension was likely influenced by the company’s upcoming borrowing base redetermination.

The drug developer said a dose of its experimental antiviral drug improved survival rates in mice infected with the Zika virus in a preclinical study.

** ICONIX BRAND GROUP INC, Friday close $8.44, +13.74 pct premarket

The Umbro and Lee Cooper brands owner announced a new five-year $300 million term loan credit facility provided by credit funds managed by affiliates of Fortress Investment Group LLC.

** APPLE INC, Friday close $103.01, -0.23 pct premarket

Apple customers were targeted by hackers over the weekend in the first campaign against Macintosh computers using a pernicious type of software known as ransomware, researchers with Palo Alto Networks Inc told Reuters on Sunday.

** SEADRILL LTD, Friday close $5.97, -15.91 pct premarket

The rig firm repeated on Monday it would present a refinancing plan for its $10 billion debt during the second quarter.

** PIER 1 IMPORTS INC, Friday close $5.48, +8.58 pct premarket

The home decor and furniture importer estimated fourth-quarter sales above the average analyst expectation, helped by promotions and clearance sales.

** HERBALIFE LTD, Friday close $55.39

The nutritional supplements maker said a database error caused the company to overstate growth in new members over the past three quarters, potentially adding fuel to short-seller Bill Ackman’s campaign against the company.

The airline said on Sunday that President and Chief Executive Officer Oscar Munoz will return to the airline full-time as of March 14.

** AMAZON.COM INC, Friday close $575.14, -0.55 pct premarket

The company said it plans to restore an encryption feature on its Fire tablets after customers and privacy advocates criticized the company for quietly removing the security option when it released its latest operating system.

** YAHOO INC, Friday close $33.86, -0.32 pct premarket

Starboard Value LP, the activist hedge fund leading an investor revolt against Yahoo’s management team, will push for control of the company’s board in talks scheduled this week, according to people familiar with the matter.

** MCDONALD‘S CORP, Friday close $117.18, +0.00 pct premarket

** ARCOS DORADOS HOLDINGS INC, Friday close $2.76

A federal prosecutor in Brazil has launched a civil inquiry into McDonald’s franchisee Arcos Dorados and other franchise groups over alleged violations of franchise law, antitrust provisions and tax avoidance, the prosecutor’s office said on Friday.

** CAESARS ENTERTAINMENT CORP, Friday close $8.8

A former Watergate prosecutor is due to release a report on a court-ordered fraud investigation into a series of corporate deals involving the company that could break a deadlock in one of the biggest fights on Wall Street over the bankruptcy of Caesars’ casino operating unit, Caesars Entertainment Operating Co Inc. (Compiled by Manish Parashar in Bengaluru; Editing by Maju Samuel)